фото показано с : blokt.com

Coinbase, America’s largest cryptocurrency exchange, is about to get even bigger. The San Francisco based company is said to be finalizing a deal that would value the start-up at $8 billion and cement its position in the sector.

Coinbase is currently in talks with New York based investment firm Tiger Global and existing shareholders for an investment to the tune of $500 million, according to a report by Recode.  The report added that $250 million would be used to buy out existing investors, while the remaining $250 million will be added to the company’s coffers. The publication did not identify the source of this information but mentioned that they are people familiar with the matter.

Tiger Global is known for its investments in various emerging technology firms. According to TechCrunch, the firm has large investments in companies like Flipkart, Ola, and Spotify. In fact, data from Nasdaq show that 53 percent of its more than $18-billion portfolio is placed in the tech sector. Its investment in Coinbase is in line with this emerging tech-focused trend.

Coinbase is considered to be the largest crypto exchange in the US. It is also the first exchange to enjoy mainstream popularity, according to Forbes, and is the first crypto start-up to achieve unicorn status, meaning a start-up that is valued more than a billion dollar.

Coinbase could further cement its market leadership should its deal with Tiger Global pushes through. According to Recode, the transaction would value the crypto exchange at $8 billion, making the company one of the highest valued start-ups in the country.

Such valuation represents a massive spike in the company’s value or an increase of around $6.4 billion in just over one year. During its latest round of funding in Aug. 2017, where Coinbase raised $100 million, the firm was just valued at $1.6 billion.

Coinbase’s Value About to Spike by 400% With Tiger Global’s Investment was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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